On September 18, 2014 Congress amended the Interstate Land Sales Full Disclosure Act (“ILSA”) to exempt condominiums from the filing and registration requirements. Originally intended to protect consumers against fraudulent land sales practices such as selling lots that were underwater or unable to obtain utility services, the federal courts and the Department of Housing and … Continue Reading
In January 2014, the Monroe County (PA) Court of Common Pleas stripped recently awarded HUP status from a not-for-profit student housing corporation affiliated with East Stroudsburg University (“ESU”). As the record in East Stroudsburg Area School District v. Monroe County Board of Assessment Appeals reflects, ESU formed the not for profit corporation, University Properties, Inc. (“UPI”), … Continue Reading
